Quote:
Originally Posted by Unregistered
Legal services is a tertiary sector industry.
The issues regarding salary that you raised are all a function of how developed the Singapore financial market is compared to HK, London or NY.
For e.g., what was the total volume of IPOs and funds raised in HK for 2016? Then compare it with SGX for 2016. Singapore doesn't hold a candle. Of course they can't pay lawyers US or HK rates here.
The issues regarding mental health is common in the legal sector world wide.
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Based on your logic, investment bankers and sales & traders should be getting depressed wages as well. They too fall into the tertiary services industry and face the same environmental constraints that you mentioned.
So why is it that they are earning New York benchmarked salaries (85k USD equivalent == 120k SGD, roughly 10k SGD per month base) in the lacklustre Asian market? What is the structural differential between banking and law that is prevalent here?